Author: Johnson Lau 2017-05-09 16:27:40
Published on: 2017-05-09T16:27:40+00:00
The conversation between Sergio Demian Lerner, Johnson Lau and Hampus Sjöberg on May 9th and 10th, 2017 was focused on the idea of changing the discount for segregated witness (SegWit) transactions in Bitcoin. Lerner suggests a soft-fork to a 50% discount now, with the option to soft-fork again to a 75% discount later if needed, as it wouldn't affect the maximum number of transactions per second. Johnson Lau notes that any parameter could be changed in a hardfork, so it is not related to the current BIP141 proposal and that the 75% discount could still be used in a soft-fork and changed in a hardfork later. Lerner also states that he believes the current transaction pattern will shift towards multisigs in the future, and that a 75% discount is a good idea for scaling without a hardfork, but it could be risky if a 2X blocksize increase hardfork were to occur in the future. He suggests a 50% discount instead to avoid making the worst-case block size 8 Mbytes when it could have been 5.4 Mbytes. However, in order to change from 50% to 75%, a hardfork would be necessary, whereas changing from 75% to 50% would only require a softfork or a pre-scheduled change. This would reduce the maximum transactions per second with a 50% discount and also reduce the incentive to spend witness UTXO.
Updated on: 2023-05-20T02:12:43.128261+00:00